Title 15, Commerce and TradeRelease 119-73not60
§80a–47 Liability of Controlling Persons; Preventing Compliance with Subchapter
Title 15 › Chapter 2D— INVESTMENT COMPANIES AND ADVISERS › Subchapter I— INVESTMENT COMPANIES › § 80a–47
Summary
You cannot make someone else do something you would be forbidden to do under these rules. If you knowingly or carelessly give major help to a person who breaks the rules, you can be treated as if you broke them too. You must not, without a good reason, block or delay creating, filing, or keeping any records or reports the rules require.
Full Legal Text
Title 15, §80a–47
Commerce and Trade, Source: USLM XML via OLRC
(a)It shall be unlawful for any person, directly or indirectly, to cause to be done any act or thing through or by means of any other person which it would be unlawful for such person to do under the provisions of this subchapter or any rule, regulation, or order thereunder.
(b)For purposes of any action brought by the Commission under subsection (d) or (e) of section 80a–41 of this title, any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided.
(c)It shall be unlawful for any person without just cause to hinder, delay, or obstruct the making, filing, or keeping of any information, document, report, record, or account required to be made, filed, or kept under any provision of this subchapter or any rule, regulation, or order thereunder.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2010—Subsecs. (b), (c). Pub. L. 111–203 added subsec. (b) and redesignated former subsec. (b) as (c).
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an
Effective Date
note under section 5301 of Title 12, Banks and Banking.
Reference
Citations & Metadata
Citation
15 U.S.C. § 80a–47
Title 15, Commerce and Trade
Last Updated
Apr 3, 2026
Release point: 119-73not60